U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces a double-dip recession because of the taxes and regulations under consideration by the Democratic Congress and President Barack Obama.
“Congress, the administration and states must recognize that our weak economy simply could not sustain all the new taxes, regulations and mandates now under consideration. It’s a sure-fire recipe for a double-dip recession, or worse,” Donohue said in a speech providing the Chamber's outlook for 2010. _TheHill
Going John Galt? Why not? Nothing in the Obama - Pelosi agenda is oriented toward the practical need for more work opportunities for millions of unemployed and underemployed Americans. Nothing in the O - P master plan will boost small business startups and proprietor owned and run businesses.
Why instead would not the...small business person pull in his horns and wait out the statist experiment, as our present 10% unemployment rate suggests is actually now happening.....
....what we are witnessing millions of times over are the following conclusions of the small entrepreneur: “This guy hates me and what I stand for, and wants to appropriate lots of what I make and give it to others he likes better. Therefore I am not going to take any risks, since he’s either going to take lots of what I already made or even more of what I hope to make.” _VDH
This is the age of skyrocketing government debt without end. The entire point of most of the ongoing debt appears to be redistributing wealth and opportunity away from productive persons toward others who are more likely to vote for O - P and friends.
...The relationship between government debt and real GDP growth is weak for debt/GDP ratios below a threshold of 90 percent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more. We find that the threshold for public debt is similar in advanced and emerging economies… _PrisonPlanet
A utopian ideologue who happens to also be an incompetent clown. And you zombies thought things couldn't possibly get worse!